China trade deficit widens by 26 percent in April
The U.S. trade deficit with China rose markedly in April to more than $20 billion, according to U.S. Commerce Department statistics released Tuesday.
It’s the highest dollar value of the deficit with China in three months and a 25.9 percent rise over March.
The increased deficit reflects “higher imports of a wide range of Chinese products from toys and games to televisions, electrical appliances and clothing,” Associated Press reported Tuesday.
Overall, the U.S. trade deficit with all nations hit $60.9 billion in April, a 7.8 percent rise over March. Much of that deficit is attributed to oil imports, with the price of crude oil skyrocketing this year.
“If the price of crude had instead been at $60 per barrel, about where it was a year ago, the trade deficit would have been $11 billion lower in April,” the AP story said. “Analysts cautioned the deficit will widen further in coming months, given that oil is now trading above $130 per barrel.”
China trade deficit widens by 26 percent in April
